Swedish battery unicorn Polarium secures €36.7M to fuel its growth journey

Swedish energy storage firm Polarium announced that it has secured €36.7M in funding in a rights issue directed towards their majority owners Stefan Jansson Global Invest, Vargas Holding, AMF, and Alecta. Polarium says the funds will help the company continue its growth and expansion plans. In October, the company announced Alecta, Formica Capital and Absolute Unlisted as news owners. In a coordinated transaction, the three parties purchased a total of SEK 1.1B+ (approximately €100M) in existing Polarium shares. Founded in 2015, Polarium aims to provide safe, smart, and sustainable energy storage solutions to enable the transition to a sustainable energy future.